Latest reports – Page 3358
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MagazineUniform style
INREV is aiming to overhaul its classification system of fund styles by launching a new analysis framework. Christine Senior speaks to the association, along with investors and fund managers, about the difficult task of bringing clarity and consistency to Europe’s unlisted real estate fund sector
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Magazine
Down but not out
Despite grim news in the US retail sector, all is not doom and gloom for investors. There are bargains to be had and innovative retailers are still identifying development potential. Stephanie Schwartz-Driver reports
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MagazineThe elephant slows
Nowhere is immune from the global credit crisis, India included. Paul Benjamin assesses how the global downturn has affected the real estate markets of the economic powerhouse
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MagazineMost wanted
Munich and Hamburg have been hailed as the top European investment destinations by ULI and PwC’s Emerging Trends report. Paul Benjamin explores the outlook for both markets and German real estate as a whole
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PropertyEU Archive
Mfi gets financing for Leipzig shopping centre project
German developer Management fur Immobilien (mfi) has secured the financing for the development of the Hofe am Bruhl inner-city shopping centre. According to German media, the builder was able to get the financing for the EUR 200 mln project from Eurohypo after losing its joint development partner, Canada-based shopping centre ...
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PropertyEU Archive
Rent reductions more popular in France, says Savills
Incentives and rent reductions are becoming more popular in France as property owners seek to secure their tenants amid worsening economic conditions and a weakening occupier market. France, which has long been considered as Europe's most resilient property market, saw property investment and letting activity slow down considerably in the ...
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PropertyEU Archive
Tim Wheeler replaced at Brixton by investment officer
Brixton, a UK real estate investment trust (REIT) focused on industrial property, has announced that Tim Wheeler is leaving the company after 24 years, the last nine as CEO. Wheeler is being replaced by the firm's investment director Peter Dawson.
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PropertyEU Archive
Colonial sells Madrid office for EUR 70m
Spanish property group Colonial has sold an office building located on Madrid's famous Paseo de la Castellana to the Spanish public insurance group Consorcio de Compensación de Seguros for around EUR 70 mln. The transaction is said to reflect a yield of 5.3%. The building comprises around 11,400 m[sup]2[/sup] of ...
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PropertyEU Archive
Martinsa Fadesa, Colonial post EUR 6 bn loss in 2008
Spanish property companies Colonial and Martinsa Fadesa reported a combined loss of EUR 6 bn for 2008 on the back of heavy revaluations of their real estate portfolios. Colonial, which is now controlled by its creditor banks, has posted a loss of EUR 3.98 bn in 2008, compared with a ...
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PropertyEU Archive
PropertyEU expands news service with new daily and weekly editions
PropertyEU is launching two new newsletter products to keep industry professionals updated on the fast-changing real estate landscape in Europe. On Monday 9 March, PropertyEU is launching PropertyDay, a unique digital news service that readers can customise according to their needs. It brings together more than a hundred news sources ...
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PropertyEU Archive
GPR 250 Europe records further losses in February
The GPR 250 Europe index returned -9.4% in February 2009, following a 5.3% loss for the first month of the year. On a national level, Turkey (Is REIT; +10.6%) was the only market to stay in positive territory. The other countries performed as follows in February: Italy (-2.6%), Poland (GTC; ...
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PropertyEU Archive
Renta Corporacion sells EUR 380m of property, reaches refinancing agreement
Spanish property company Renta Corporacion has sold EUR 380 mln worth of property assets since the start of the year as part of an agreement with banks to refinance EUR 500 mln of long-term debt. The group, which posted a loss of EUR 111.5 mln in 2008, said its debt ...
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PropertyEU Archive
Fimit to bid for Enasarco portfolio
Italian fund manager Fimit is reportedly considering a bid for the commercial part of the portfolio that pension fund Enasarco put up for sale last year. According to the Italian property news website Demanio RE, Enasarco, which announced plans to offload its entire property portfolio worth over EUR 3 bn ...
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PropertyEU Archive
AEW Europe set to appoint AXA REIM executive as new CEO
AEW Europe is expected to announce the appointment in the coming days of Christian Delaire as its new CEO to replace veteran Francois Pochard, according to a report in Business Immo, which was confirmed on Tuesday by PropertyEU's sources. Delaire, 41, is currently the head of global fund management at ...
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PropertyEU Archive
MCG buys stake in two Moscow hotels for $60m
Mos City Group (MCG), a Moscow-based development company owned by Pavel Fuks, has acquired a 55% stake in the Budapest and Peter I Hotels located in the centre of the Russian capital for a total amount of $60 mln, including $47 mln of debt, according to Russian media reports.
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PropertyEU Archive
Multi clinches EUR 165m facility for Forum Duisburg
Multi Development has secured a EUR 165 mln financing facility for its Forum Duisburg shopping centre which opened in the German city of Duisburg in North Rhine-Westphalia last year. The developer signed the financing agreement with German banks Hypo Vereins, Eurohypo, Sparkasse and Helaba on Monday.
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PropertyEU Archive
Redevco Turkey to open two malls in Q3
Redevco is to open its first two shopping centre schemes in Turkey in the third quarter of this year. Gordion Shopping Center, which is being developed in Ankara, Turkey's capital and second largest city, will open its doors at the end of August. Erzurum Shopping Center in Erzurum, the largest ...
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PropertyEU Archive
Immofinanz settles inter-company loan with EUR 1.5bn sale of Austrian unit
Austrian real estate group Immofinanz is selling its Austrian property arm, ImmoAustria Immobilien Anlagen, to its Central and Eastern European subsidiary, Immoeast, for EUR 1.46bn. The deal is primarily designed to repay the EUR 1.7 bn inter-company loan from Immoeast to the rest of the Immofinanz group.
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PropertyEU Archive
FranconoWest in stock market switch to cut costs
German residential property company FranconoWest has announced it intends to transfer its listing from the Regulated Market to the Open Market of the Frankfurt Stock Exchange in a bid to cut costs. FranconoWest specialises in the purchase, letting and optimisation of residential property in the German state of North Rhine-Westphalia.
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PropertyEU Archive
Danish property returns stay positive over 2008, says IPD
Investment in Danish commercial real estate returned 3.1% last year, compared to 10.1% over 2007, according the IPD Denmark Annual Property Index for 2008. However, property significantly outperformed the equity market, which returned -50.3% last year, but lagged behind the bonds markets, which returned 9.5%2.
